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Dec 13, 2012
12/12
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COM
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debt deal negotiations have stalled. >> the fiscal cliff stalemate remains. >> the standoff continues. there isn't a lot of reason for hope. >> democrats and republicans are blaming each other for the stalled negotiations. >> who's going to blink sglirs what's going to blink first. >> the white house is daring republicans literally to blink. (laughter) >> stephen: obama is daring republicans literally to blink. well, the joke's on him! (laughter) because i know some republicans who had their eyelids surgically removed. (laughter) (cheers and applause) now obama won't budge off his calls for $1.6 trillion in new tax revenue over the coming decade, mostly from increasing tax rates and taxes on upper-bracket earners. folks, that's just punishing our nation's job creators. america's billionaires are the engine that drives our economy through smart investments! and occasionally through dumb ones. (laughter) today house speaker john boehner struck back with his plan to cut spending by demanding obama come up with boehner's plan to cut spending. (laughter) >> a lot of people know that the pr
debt deal negotiations have stalled. >> the fiscal cliff stalemate remains. >> the standoff continues. there isn't a lot of reason for hope. >> democrats and republicans are blaming each other for the stalled negotiations. >> who's going to blink sglirs what's going to blink first. >> the white house is daring republicans literally to blink. (laughter) >> stephen: obama is daring republicans literally to blink. well, the joke's on him! (laughter) because i...
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Dec 13, 2012
12/12
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i don't think this fiscal cliff talks will resolve anything. nothing. charles: the whole thing, though, a lot of conservatives are saying boehner may not be that far away from obama in ideology. in other words, he's purged the tea party within the ranks of the leadership within the g.o.p. and seems to be willing to go down the same path as the president. >> i'm not sure i believe that. i think boehner's heart is in the right place, but he's caught up. it's his role to sort of grind out a deal with the president, rather than speak for the party. noww you know, stuart, in the british system, someone will stand on the floor of the house of commons in the opposition and give a major statement of the party's position in any given fight. i don't see why it should not be possible to designate somebody like paul ryan or eric cantor or even marco rubio to stand down in washington and give a major presentation. charles: if they give the presentation and the lead ser doing something different -- and the leader is doing something different, isn't that a mixed messa
i don't think this fiscal cliff talks will resolve anything. nothing. charles: the whole thing, though, a lot of conservatives are saying boehner may not be that far away from obama in ideology. in other words, he's purged the tea party within the ranks of the leadership within the g.o.p. and seems to be willing to go down the same path as the president. >> i'm not sure i believe that. i think boehner's heart is in the right place, but he's caught up. it's his role to sort of grind out a...
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Dec 12, 2012
12/12
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cliff. do you agree with that? >> i'm not sure. i think if we tal fall off the f that is a term that chairmen bernanke made up. taxes could go up, and president could pay for it. neil: under his - watch you hava recession. >> that is not good for the president, he could over play his hand. neil: do you think he is? >> i think he is right now, whether we will make up for it and get real we'll see. neil: nancy pelosi said today, that what is speaker boehner whining about, pair praising here. -- paraphrasing here. he says, well, that is a separate deal from this deal, do you agree that trillion in cuts she alluded to is part of last time you were on brink should be counted again. >> absolutely not that is is like double counting, this administration is trying to do a lot of double counting. it does not work that way, that is bad accounting. neil: it is not that to me. >> i do not want to double count anything. neil: thank you senator very much, if senator is right, you heard it, that time is wa
cliff. do you agree with that? >> i'm not sure. i think if we tal fall off the f that is a term that chairmen bernanke made up. taxes could go up, and president could pay for it. neil: under his - watch you hava recession. >> that is not good for the president, he could over play his hand. neil: do you think he is? >> i think he is right now, whether we will make up for it and get real we'll see. neil: nancy pelosi said today, that what is speaker boehner whining about, pair...
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Dec 6, 2012
12/12
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cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool. >> yes. >> and they need to inspect it. >> counter-terrorism measures in the backyard. you never know. good morning, everyone. getting out the door this morning, it's very cold up in new england. tell you what, the lack of snow is really becoming a slightly alarming especially if you have any interest in snowy weather recreation or skiing or ice skating or maybe you like to go snowmobiling. the northern half of the country is sparse. 7% of the country has snow cover. most of that is the high elevations in the rockies and northern rockies. it's about as low as it gets. last yea
cliff and cut the national debt. the 81-year-old simpson went "gangnam style" to make his point. ♪ >> i have a bum knee. horse, horse. ride the horse. >> senator, thank you for that. and that's your morning dish of "scrambled politics." and now for a look at your national weather, let's turn to bill karins. he has your weather channel forecast. >> the best part is the underwater robot for a place that doesn't have water. >> maybe it's a pool....
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Dec 11, 2012
12/12
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this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal cliff $16 trillion debt which the tax you have 200,000 less jobsve next year and the people voting for that will be responsible and held accountable for the public policy. >>neil: you have been talking about freeing out to the middle-class. for and reason in the last election republicans lost the middle class. they seemed to get stereotypes as the party that appeals only to the well-to-do. what i am asking you, how do you change that? the perception sticks in the eyes of some. >>guest: first of all, we need to understand the middle class makes us different and exceptional. every didn't has rich people but what makes us
this fiscal cliff is the direct result of the last fiscal cliff when we had the debt limit showdown. >>neil: both sides agreed. >>guest: i voted again i. why create the artificial crisis as a way to force action? it never works. >>neil: bethis. they did. >>guest: and now they are going to do it again. they are saying, now, hurt growth in america, cut a deal that hurts growth in america so in a year from now we will have a worst fiscal cliff and that is the real fiscal...
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Dec 5, 2012
12/12
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cliff discussions by folding the debt ceiling into fiscal cliff talks. take a listen. >> obama: congress, in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> jennifer: fortunately for us "newsweek" "daily beast" special correspondent michael tomasky is always up for playing political games himself. he's joining us from washington d.c. thanks for coming back inside "the war room." >> it is always my pleasure, governor. >> jennifer: always a pleasure to have you. so let me talk about this debt ceiling issue. because really, as we look at it really, the only leverage that republicans have on the fiscal cliff talks they proceed to be with the debt limit right? so today the treasury department ups the ante by endorsing republican senator mitch mcconnell's summer 2011 provision which, you know, he suggested and it effectively lets the president rai
cliff discussions by folding the debt ceiling into fiscal cliff talks. take a listen. >> obama: congress, in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> jennifer: fortunately for us "newsweek" "daily beast" special correspondent michael tomasky...
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Dec 11, 2012
12/12
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the longer the white house slow walk the process, the closer our economy gets to the fiscal cliff. herhere's what we do know. we know the president wants more stimulus spending and an increase in the debt limit without any cuts for reforms. that is not fixing our problem, frankly, it is making it worse. on top of that, the president wants to raise tax rates on many small-business owners. but even if we did exactly what the president wants, we would see red ink for as far as the eye can see. that is not fixing our problem either, just making it worse. i think the members know i am an optimist. i am hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together. toward the best possible solution, and that means cutting spending. now if the president doesn't agree with our approach, he has an obligation to put forward a plan that can pass both chambers of the commerce. because right now the american people have to be scratching their heads and wondering when is the president going to get serious. >> to some that
the longer the white house slow walk the process, the closer our economy gets to the fiscal cliff. herhere's what we do know. we know the president wants more stimulus spending and an increase in the debt limit without any cuts for reforms. that is not fixing our problem, frankly, it is making it worse. on top of that, the president wants to raise tax rates on many small-business owners. but even if we did exactly what the president wants, we would see red ink for as far as the eye can see....
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dave: what if it goes over the fiscal cliff? >> i call it a fiscal curb. think back, literally, we had to baja, the bp oil spill, nuclear meltdown, debt downgrades, greece, italy, spain, foreclosures, student loans, how many things do we have to get fearful about before we start to believe in this economy? it is not booming. i am not saying it is perfect, not saying it is 1980s again, is not but is growing 2% per year, maybe 2.2, two.three, and it keeps growing. we have not had a recession since march of 2009. >> it is media granddad as almost people feel. if we take the consumer back and put them in the jobs report we did see the number of hours increase as did wages. what do you make of that? does that give you hope? >> it does. if you look at car sales in november, automobile sales, fifteen million vehicles were sold in november. highest since december of 2007. that weakness we saw in cars and auto sales in october and retail sales, i think because of sandy it is going to be over. november and december will be great month for the consumer. i do have hop
dave: what if it goes over the fiscal cliff? >> i call it a fiscal curb. think back, literally, we had to baja, the bp oil spill, nuclear meltdown, debt downgrades, greece, italy, spain, foreclosures, student loans, how many things do we have to get fearful about before we start to believe in this economy? it is not booming. i am not saying it is perfect, not saying it is 1980s again, is not but is growing 2% per year, maybe 2.2, two.three, and it keeps growing. we have not had a...
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may be heading for the fiscal cliff. what does that mean for you and your investments? we have the jobs report today for a brief moment. we weren't worried about the fiscal cliff. now, we are back. what do you make of it? >> the jobs report was okay. there are some signs of very modest improvement in jobs. the good news is we have not really lost momentum and i will put that in the victory column. from a very short-term perspective, it is the fiscal cliff that is on everyone's mind. consumer sentiment is starting to decline. that suggested everyone seems to be focused on the fiscal cliff. when you are focused on uncertainty, what do you do, you do nothing. those are the major implementations for the economy. cheryl: i can hear the hesitancy in your voice. a lot of our guests are saying the same thing. they are afraid of what washington will do or maybe not do. your outlook is a bit more bullish than some of your colleagues. what are you saying in the second half of 2013 that others are not? >> on a very short-term basis, we have noticed there are a couple of things. the
may be heading for the fiscal cliff. what does that mean for you and your investments? we have the jobs report today for a brief moment. we weren't worried about the fiscal cliff. now, we are back. what do you make of it? >> the jobs report was okay. there are some signs of very modest improvement in jobs. the good news is we have not really lost momentum and i will put that in the victory column. from a very short-term perspective, it is the fiscal cliff that is on everyone's mind....
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Dec 7, 2012
12/12
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. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling, period. >> the fiscal cliff talks reached a new low yesterday when, somehow, the new york jets got dragged into it on the senate floor. >> it's not one of my favorite teams, but it's really, really fun to watch, and that's the new york jets. coach ryan, he's got a problem. he has three quarterbacks, sanchez, he's got tim tebow, he's got another guy. he can't decide who their quarterback is going to be. that's the same problem republicans are having. romney's gone, but he's still in the background. we have mcconnell and we have boehner. who is the quarterback, mr. president? who is the quarterback? >> there's s
. >> an added wrinkle to the fiscal cliff talks is the debt ceiling, with the government on pace to reach its borrowing limit early next year. the white house stated its position on the 14th amendment, which some theory rise is a way for the president to raise the debt limit independently, should republicans attempt to use it as a negotiating tool. >> i can say that this administration does not believe that the 14th amendment gives the president the power to ignore the debt ceiling,...
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Dec 11, 2012
12/12
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very soon after this fiscal cliff issue moves forward, we're going to be moving forward on the debt ceiling debate. you have said you do not agree with president obama that he basically wants to take this debt ceiling debate off the table and this no barriers. why? >> it's like taking the limits off a teenager daughter's credit card. if you don't have limits you're going to spend forever. if the president didn't have limits, didn't have to come to us, work out an agreement, spending goes on forever, debt and deficit, pretty soon -- >> play with people's lives every couple of years on this debt ceiling. look, i want this, otherwise i'm not going to prove it. >> don't play with lives but pocketbook of american people. time we stopped spending so much. debt cap is like credit card cap, it works. >> there's been a suggestion where he need to reduce mortgage interest deduction, a million dollars. should that come down. >> you shouldn't never pick one deduction out and say that's where i'm going to do it. i favor capping on a means test. for example, if you're in the top 2%, maybe maximum deducti
very soon after this fiscal cliff issue moves forward, we're going to be moving forward on the debt ceiling debate. you have said you do not agree with president obama that he basically wants to take this debt ceiling debate off the table and this no barriers. why? >> it's like taking the limits off a teenager daughter's credit card. if you don't have limits you're going to spend forever. if the president didn't have limits, didn't have to come to us, work out an agreement, spending goes...
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Dec 10, 2012
12/12
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as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. how do you get fr. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to work. military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to rem
as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. how do you get fr. to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the...
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lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i think we're just at the beginning of a long protractive battle, lou. lou: more on the stalemate of the fiscal cliff, the impasse, and tell us what you think about the so-called negotiations. vote in tonight's online poll. do you agree president obama's ultimatum on higher taxes are actually the cause? make him responsible for driving us off the fiscal cliff? go to our to be page at facebook facebook.com/loudobbs. we'll have results at the end. chris and steven joining us here next to address that question and more. ♪ ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now through december 31st. [ santa ] ho, ho, ho! [ malennouncer ] lease a 2013 e350 f $579 a month at your local mercedes-benz dealer. lou:
lou: the fiscal cliff and now a new ultimatum on the national debt ceiling. you suppose this is the last condition? >> it's going to be a wild couple of months, maybe everybody thought with the election over, there was going to be peace and figure all of this out, but i think we're just at the beginning of a long protractive battle, lou. lou: more on the stalemate of the fiscal cliff, the impasse, and tell us what you think about the so-called negotiations. vote in tonight's online poll....
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Dec 7, 2012
12/12
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WMPT
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cliff. the only hopeful sign is that republicans and democrats are talking privately again. but they haven't worked out any of the big issues, including what to do about the nation's debt limit. washington will hit its borrowing limit early next year, darren gersh has the latest. >> reporter: sitting around the kitchen table with a middle class family in virginia, the president once again pressed for congress to avoid the fiscal cliff. >> if this family has a couple of thousand dollars less to spend, that translates into $200 billion of less consumer spending next year. and that's bad for businesses, large and small. >> reporter: behind the scenes, the two sides are talking again. but there was no progress in public. senators today fought over the debt limit, and ended up deadlocked over a bill to allow the president to automatically increase borrowing. >> he's shown what he is really after is unprecedented powers to spend taxpayer dollars without any limit at all. >> reporter: if the debt l
cliff. the only hopeful sign is that republicans and democrats are talking privately again. but they haven't worked out any of the big issues, including what to do about the nation's debt limit. washington will hit its borrowing limit early next year, darren gersh has the latest. >> reporter: sitting around the kitchen table with a middle class family in virginia, the president once again pressed for congress to avoid the fiscal cliff. >> if this family has a couple of thousand...
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Dec 10, 2012
12/12
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CNN
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as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >> thank you, ana, thank you, lz. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. >>> stephen baldwin was arrested this week in new york. the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said he paid $100,000 already to new york state. earlier he told me he knew all this was coming. >> i've been in a conversation about this very thing for several months now. and, again, i'm not trying to be funny when i say this. i'm grateful these guys are giving me a chance to work it out. it's a tough situation because it wasn't me specifically, as you know, don, you have people do your taxes for you, et cetera, et cetera. it wasn't handled appropriately. i am ultimately responsible but i am in a conversation and we are communicating with them and what i'm told is that we're going to be able to work it out. i'm hoping that's
as soon as we get passed the fiscal cliff, president obama will have to meet again with boehner to discuss the debt ceiling. >> thank you, ana, thank you, lz. >>> steven baldwin was arrested and when he was released he wanted to come on this show and explain himself. that's next. >>> stephen baldwin was arrested this week in new york. the district attorney says he owes more than $350,000 for not paying his state taxes for three years. he pleaded not guilty. baldwin said...
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Dec 9, 2012
12/12
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cliff, the fiscal deficit and the debt of the country, which are three topics that can be addressed now on the comprehensive and efficient fashion. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i could look at the debt and say, oh, this means we need to cut spending. so what does it mean? so what would you, and what globally, what would mean the most for the u.s. to do in terms of the global economy? >> you know, what you said, you would qualify as an economist. on the one hand, on the other hand. the truth of the matter is that the best way out of this would be a balanced solution because you will always fine a school of thoughts that will say it's much better to cut spending, and you will find another school of thought that says it's much better town crea increase the r and cut taxes and there
cliff, the fiscal deficit and the debt of the country, which are three topics that can be addressed now on the comprehensive and efficient fashion. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i...
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Dec 10, 2012
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plus, we'll talk fiscal cliff and debt ceiling with him. plus, one hatch of simpson-bowles. the erskine bowles half. the less dancing of the duo. why former chief of staff is growing more optimistic we'll be able to get a deal before the cliff dive. by the way, will he take a job in president obama's cabinet? i'll have that answer straight ahead. first, a look ahead at the president's schedule today. you can see it's michigan with the lunch time remarks. back to the white house before 5:00. [ male announcer ] when ziggy the cat appeared at their door, he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. for a love this strong, his family only feeds him iams. compared to other leading brands, it has 50% more animal protein... ...to help keep ziggy's body as strong as a love that reaches further than anyone's words. iams. keep love strong. ♪ don't know what i'd do ♪ i'd have nothing to prove ♪ i'd have nothing to lose [ male announcer ] zales is the diamond store. take up to an extra
plus, we'll talk fiscal cliff and debt ceiling with him. plus, one hatch of simpson-bowles. the erskine bowles half. the less dancing of the duo. why former chief of staff is growing more optimistic we'll be able to get a deal before the cliff dive. by the way, will he take a job in president obama's cabinet? i'll have that answer straight ahead. first, a look ahead at the president's schedule today. you can see it's michigan with the lunch time remarks. back to the white house before 5:00. [...
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Dec 6, 2012
12/12
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we've got the debate about the fiscal cliff and the debt ceiling and we're talking in the trillions. before you can even get to the trillions, if you can't stop stuff like this, does the american public ever believe that washington is going to get its act together if you can't stop this 100,000 here, million there, all, of course, adds up to billions. if we can't stop the zombies, taxpayers paying for the zombies, how can we ever tackle medicare and social security? [laughter] megyn: that's the thing that makes people upset, julie. all right, if you're going to increase my taxes to help pay down the debt, help people in need, that's one thing, but if i'm going to be paying for zombies or for santa to ride the $250,000 sleigh, i object. >> i'm a little embarrassed. can you imagine being an employee and having to pretended to be a zombie? >> those were actors. >> i don't know about that. [laughter] i think they may have been dhs employees dressed up. charles is right, thanksgiving a little ri -- this is a little ridiculous. i understand what they're trying to do, they're trying to get
we've got the debate about the fiscal cliff and the debt ceiling and we're talking in the trillions. before you can even get to the trillions, if you can't stop stuff like this, does the american public ever believe that washington is going to get its act together if you can't stop this 100,000 here, million there, all, of course, adds up to billions. if we can't stop the zombies, taxpayers paying for the zombies, how can we ever tackle medicare and social security? [laughter] megyn: that's the...
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the other night i left the fiscal cliff behind and took a walk through new york city. it was great. the lights, the christmas tree, rockefeller center, crowds of people with their children. was such a switch. "varney and company" will not walk away from the fiscal cliff but we will bring you the real america, the responsible america, the way it is and the way it ought to stay. i hope you all have a wonderful american weekend. test test. there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarilcomfortable sleep number experience. an exclusive collectioof innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that alls you to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collection. discover how our sleep p
the other night i left the fiscal cliff behind and took a walk through new york city. it was great. the lights, the christmas tree, rockefeller center, crowds of people with their children. was such a switch. "varney and company" will not walk away from the fiscal cliff but we will bring you the real america, the responsible america, the way it is and the way it ought to stay. i hope you all have a wonderful american weekend. test test. there is no mass-produced human. every human...
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Dec 6, 2012
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host: the president yesterday spoke about the debt ceiling and is tied to the fiscal cliff negotiations. [video clip] >> i have to tell you that is a bad strategy for america, a bad strategy for our businesses, and it is not a game that i will play. most of you were involved in discussions and watched the catastrophe that happened in august of 2011. everybody here is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's reserve currency potentially defaults on its debts, that we give out the basic notion that the united states stands behind its obligations. we cannot afford -- host: whil"the wall street journal." guest: the president does not want to negotiate with the republicans on the debt ceiling. that is like giving a son or daughter a credit card to do with it as they want freely. i think the president has to admit that both sides have tried to break measures and legislations to the table that would reduce the debt ceiling. the president -- look at how the deficit has quadrupled since he has been in the white house a
host: the president yesterday spoke about the debt ceiling and is tied to the fiscal cliff negotiations. [video clip] >> i have to tell you that is a bad strategy for america, a bad strategy for our businesses, and it is not a game that i will play. most of you were involved in discussions and watched the catastrophe that happened in august of 2011. everybody here is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's...
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Dec 11, 2012
12/12
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KQED
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but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the first form of tax breaks on the table. used by 30% of tax payers they cost the government over $200 billion a year. about a fifth of this year's deficit. charitable donations alone cost $40 billion a year. but ending them is costly too. >> anybody who gives money away, taxes will go up. they'll pay more. that's what we're all about trying to get rid of these. but at the same time they'll likely give less to charity. if i don't get the deduction, it's going to cost me more after taxes to give away money. >> reporter: and say nonprofit leaders, if the rich stop giving, the poor stop getting. >> we're
but limiting or even charitable deductions could be part of a deal to avoid the fiscal cliff. one man of the tax policy center says given our national debt? sort of tax hikes are inevitable. >> one way is to tax the same income we have right now but get more revenue. the alternative is to tax more. get rid of the deductions and the exemptions, the things that reduce or taxable income. we tax more at today's rates and we bring in more revenue. >> reporter: itemized deductions are the...
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now we're talking about using the fiscal cliff or the debt ceiling as the ultimate weapon, trying to get something from the president now or give something to the president now with a threat that the debt ceiling will be used as the weapon in a few weeks or months. and quite frankly, that's no way to run a country. we need to move beyond this stalemate and this gridlock and both parties need to come together. i think the president's trying his best and, quite frankly, i would say that speaker boehner is really trying here. but these are difficult circumstances and i believe -- i return to what i said earlier. we had an election. the president won. when it comes to these tax matters, the people of this country are supportive of the president's approach. >> i'm curious, chip, and you were on this teleconference and obviously those are people very involved and very interested but there's an awful lot of fatigue, election fatigue in this country and, frankly, the holidays -- holiday season is upon us, people are busy, kids are back in school, so son and so forth. how much is public press
now we're talking about using the fiscal cliff or the debt ceiling as the ultimate weapon, trying to get something from the president now or give something to the president now with a threat that the debt ceiling will be used as the weapon in a few weeks or months. and quite frankly, that's no way to run a country. we need to move beyond this stalemate and this gridlock and both parties need to come together. i think the president's trying his best and, quite frankly, i would say that speaker...
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earnings will be very much held captive by the fact that the uncertainty not only about the fiscal cliff but debt ceiling. >> very quickly, john, we're lose altitude in this market rapidly. what do you make of this, and what are you expecting to close here? >> just shows you how fragile our markets r.one comment out of washington can take profits off the table intraday. we'll hold on to our gains here. >> thanks, everybody. we appreciate it. where exactly do we stand in these fiscal cliff negotiations in the latest now from our john harwood, on your stomping ground. good to see you both. what do you make of this comment from harry redd, john, saying it's unlikely we get a deal by christmas? are they posturing? they don't want to put their spending cuts on the table but want the republicans to. is this posturing? >> i think it's posturing. jay carney gave a white house briefing saying i'm not going to reveal anything about the status of the talks in negotiation beyond the fact that they took place. the support trying to hammer republicans publicly. he's got the high side public opinion on
earnings will be very much held captive by the fact that the uncertainty not only about the fiscal cliff but debt ceiling. >> very quickly, john, we're lose altitude in this market rapidly. what do you make of this, and what are you expecting to close here? >> just shows you how fragile our markets r.one comment out of washington can take profits off the table intraday. we'll hold on to our gains here. >> thanks, everybody. we appreciate it. where exactly do we stand in these...
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the real attention will be on this massive, $60.3 trillion debt, this fiscal cliff. but, most importantly, this debt crisis next year. i'm not talking about what's going to happen in february or january. what i want to talk about is how do we solve this problem? how do we get the speaker? and the president actually opened up that back door. they're sitting there making back room deals. open up and let the american people see what's going on. i want to see what's going on. they won't tell either side what the deal-making is going on. i don't think that's the way to make policy. >> now, as you said, you and i may not agree. we've debated on this show, though you've always come on. are you saying that you believe that speaker boehner has a score card and is punishing you and three others for standing up and voting for what you believe to be right? >> that is apparently the case. we wrote a letter to the speaker and i think if you read the language of the letter, you walk through all of the washington and you see oh, yes, there was a score card and we were graded a certa
the real attention will be on this massive, $60.3 trillion debt, this fiscal cliff. but, most importantly, this debt crisis next year. i'm not talking about what's going to happen in february or january. what i want to talk about is how do we solve this problem? how do we get the speaker? and the president actually opened up that back door. they're sitting there making back room deals. open up and let the american people see what's going on. i want to see what's going on. they won't tell either...
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Dec 13, 2012
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even in the debt ceiling debate or the fiscal cliff negotiations that neither side will give and they're both being unreasonable. and really not drilling down. the other thing they do is they really go back to newt gingrich and grover norquist. as you've talked about both these things, changing the culture of washington and making compromise impossible. >> here's something really naughty, i think in terms of policy. who can forget back in august not a million years ago when the romney pollster neil newhouse said the following. we're not going to let our campaign be dictated by fact checkers. think about that. fact checkers meaning facts. >> right. >> i was on the show with you the other night. we talked about the quotes of the year. 47%. >> that's a good one. >> i thought this should be the top two of three. that showed their view towards reality. it was an arrogance that we can say whatever we want to say. and i think in years past, this is what's changed. campaigns would not be so brazen. if caught in a lie they maybe feel some shame. here's neil newhouse telling reporters that we don'
even in the debt ceiling debate or the fiscal cliff negotiations that neither side will give and they're both being unreasonable. and really not drilling down. the other thing they do is they really go back to newt gingrich and grover norquist. as you've talked about both these things, changing the culture of washington and making compromise impossible. >> here's something really naughty, i think in terms of policy. who can forget back in august not a million years ago when the romney...
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fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in politics going on here. we just talked about politics from mcconnell's side. democrats are aware that even if they allow -- even if they get the republicans to crumble on raising tax rates for upper bracket people there is still going to be a need next year, say march, to increase the debt limit and that was what john boehner used as is leverage a year-and-a-half ago in his talks with president obama so there's a belief on the part of democrats that they would like to get this idea in common circulation and also trying to manufacture some dialogue, the debt
fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in...
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the real fiscal cliff is what happens if we don't strike a good deal, that actually deals with our debt and deficit. and that's when the credit markets, capital markets will really respond. i'm far more concerned about that than i am the deadline at the end of the year. >> a lot of discussion about boehner's caucus. not just in the house so much, but even in the senate. this is a quote from jeff sessions today. washington has become possessed by the idea that a small group of negotiators meeting in secret can solve the deep, painful and systemic problems plaguing this country. this is a siren song. do you think the process here at large is flawed? >> well, i don't know that you would get anything better if you had both bodies working on it in total. we are where we are. i think the best chance we have now are for the negotiators to strike a deal and put that on the floor of the house and the senate. >> of course, last time, speaker boehner did a deal with obama. it was actually rejected by the rest of the gop, and the whole thing fell apart. how significant is it as boehner looks to mak
the real fiscal cliff is what happens if we don't strike a good deal, that actually deals with our debt and deficit. and that's when the credit markets, capital markets will really respond. i'm far more concerned about that than i am the deadline at the end of the year. >> a lot of discussion about boehner's caucus. not just in the house so much, but even in the senate. this is a quote from jeff sessions today. washington has become possessed by the idea that a small group of negotiators...
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cliff, the fiscal deficit, and the debt of the country, three topics that can be addressed now on a comprehensive and efficient fashion. >> so what should this mean? i think i could interpret any given number, to think oh, that means we should not touch taxes for any bracts, because it's as much money as we could have in it, or this means that we need more stimulus to keep the jobs going, or i could look at the debt and say this means we need to cut spending, so what does it mean? what would you, and what globally, what would mean the most for the u.s. to do? >> you know what you said? you would qualify as an economist. on the one hand, on the other hand -- the truth of the matter is that the best way out of this would be a balanced solution. you will always find a school of thought that will say it'sment better to cut spendings. another that will say it's better to increase the revenue and raise taxes. and another group that says we have to cut deficits now and in the long run. we have seen studies of all sorts, and they will not demonstrate the absolute truth. my view, personally,
cliff, the fiscal deficit, and the debt of the country, three topics that can be addressed now on a comprehensive and efficient fashion. >> so what should this mean? i think i could interpret any given number, to think oh, that means we should not touch taxes for any bracts, because it's as much money as we could have in it, or this means that we need more stimulus to keep the jobs going, or i could look at the debt and say this means we need to cut spending, so what does it mean? what...
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cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that ce t politicians get the bloodlust out there, once they smell the bld in the water, oncehe raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that theoint is the republicans are losing momentum on the side of not raising tas. that it is starting tofeel re and more like there must be some concession, there must be some caving to get through the fiscal cliff. when you look at senators who have said theye going back on the pledge, lindsey graham, bob corker, tom coburn, lamar alexander, eric cantor, what do you do at this point to keep the fight going? or do you thinkthat it is necessary to concede a little bit of ground? >> well, two things. the senators, e republican don't matter because thetent democratic senate can pass a tax increase if they want the senaaors you mentioned would only vote for a x increase if they g massive permant entitlement reforms of the kind that rry reid and the president have ann
cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that ce t politicians get the bloodlust out there, once they smell the bld in the water, oncehe raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that theoint is the republicans are losing momentum on the side of not raising tas. that it is starting tofeel re and more like there must be some concession, there must be...
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all you guys on washington pat each other on the back and say we didn't go off the fiscal cliff and the debt goes from $16 trillion to $20 trillion a couple years down the road to $25 trillion. nothing changes in washington, dc. you tax. you still spend. maybe it is time to take the medicine congressman and go over the fiscal cliff and fix the problem. >>guest: there is no fiscal cliff. there is a fiscal slope. the earth doesn't stop spinning, the sun will come up, the moon will come up and we will have to do things in john. taxes will go up and the democratic party and hopefully some responsible republicans will vote to make certain that we remove this tax cut that would take place. >>eric: no talk about responsible democrats to stop spending so were, or cut back the spending, not just cutting back the increase rate in spending but item spending cuts. >>guest: the rate of increase doesn't have anything to do with the spain people are suffering whether they are middle class or poor. we were talking about the so-called fiscal cliff, if that happens, automatically taxes are going to go up
all you guys on washington pat each other on the back and say we didn't go off the fiscal cliff and the debt goes from $16 trillion to $20 trillion a couple years down the road to $25 trillion. nothing changes in washington, dc. you tax. you still spend. maybe it is time to take the medicine congressman and go over the fiscal cliff and fix the problem. >>guest: there is no fiscal cliff. there is a fiscal slope. the earth doesn't stop spinning, the sun will come up, the moon will come up...
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having an agreement to avoid the debt, the fiscal cliff, and then having a down payment on actually getting the $4 trillion identified. >> howard dean is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six month
having an agreement to avoid the debt, the fiscal cliff, and then having a down payment on actually getting the $4 trillion identified. >> howard dean is a deficit hawk. liberal, but he is a deficit hawk. he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax...